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override

(1) A carve-out from oil and gas lease royalty payments,usually a gross dollar amount per barrel of oil or per cubic foot of gas without diminution for costs of extraction.The override may be payable to the broker on the deal,to the attorney,or to some person other than the lessor with the mineral rights.(2) A name given to a clause, in a real estate listing contract, that requires payment of a commission to the listing broker if a buyer introduced to the property by the broker purchases the property within a certain time period after the listing agreement expires.The clause is to protect the broker for sales activities at the very end of the listing period that do not come into fruition until later.It also serves to protect the broker from buyers who learn about the property from the broker, take the broker's time in securing additional information and property inspections,and then attempt to time their offers until after the listing expiration in the hopes the seller will accept a lower price because then the seller does not have to pay a commission from the sale proceeds.

References in periodicals archive ?
Making clear that interpretation of the statutes as expressed in overridden precedents are not binding authority (271) gives lower courts the freedom to do the analysis suggested in step one of this proposal.
An alternative proposal would simply counsel lower courts to "signal" their discomfort with application of an overridden precedent but nonetheless abide by it up to and until the time when the Supreme Court officially announces the extent to which the override should be interpreted as overruling the Court's prior interpretation.
As discussed more fully above, the rebuttable presumption I propose is not a hard rule that the interpretation in an overridden precedent is clearly rejected.
By contrast, a presumption against relying on an overridden precedent refocuses the analysis on the statutory language and congressional signals, rather than on judicial interpretations.
In cases, such as Patterson, where the overridden case departed from a preexisting, relatively uniform statutory interpretation, or where an alternative interpretation is clear, the new rule would increase predictability.
This would of course take time, but it would replace the complicated task of trying to reconcile competing signals offered by the override and the overridden precedent.
289) Moreover, the purposes clauses explicitly "reject" aspects of the Supreme Court's "reasoning" and "standards" announced in the overridden precedents.
Additionally, in the employment discrimination context, there are a handful of articles that explore the specific question of whether an interpretation that has been overridden with respect to one statute should be applied to other statutes that are generally interpreted in tandem.